Miners including Cormint and TeraWulf are among the lowest-cost producers of Bitcoin, an important advantage amid tightening margins, CoinShares said.
Mining news
Bhutan holds another $886 million worth of Bitcoin, which could introduce more selling pressure, as the country has been mining and holding Bitcoin for over five years.
Spot Bitcoin ETFs will need to make an average of $301 million in net inflows per day to get it done this week.
Bitcoin’s path to $70,000 hinges on lower interest rates, the US election outcome, boosted BTC miner profits, and strong spot ETF demand.
Riot Platforms continues navigating its complex relationship with Bitfarms while expanding its operations.
TeraWulf’s focus on raising capital through institutional buyers suggests confidence in its future despite volatile cryptocurrency markets.
Bitcoin mining difficulty has surged by 378% over three years, signaling the potential for institutional-driven BTC stability by 2030.
Bernstein’s report is the latest in a series of bullish forecasts from institutional market researchers ahead of the November US presential election.
The Tether-backed company is talking to interested parties, it said. It may also see an IPO on the Nasdaq next year.
The growing Bitcoin hashrate and block reward reduction from the Bitcoin halving could lead to miner consolidation among smaller firms.